In early trading on Monday, the CAC 40 lost 1.41% to 4,709.75 points. Wednesday, he ended up on a slight rebound (+ 0.49%). Elsewhere in Europe, Frankfurt lost 1.35%, and London 1.45%.

Wall Street also finished in strong decline on Wednesday. Investors were showered by the speech of the US central bank (Fed) who decided on a fourth rise in its rates this year. For 2019, the Fed revised down its growth targets. It will slow the number of increases in its rates to two instead of three. A gesture deemed insufficient, the operators hoped a greater braking.

The US central bank failed to reassure markets that were expecting a lot from this meeting, the last of the year. The Federal Reserve “was not as worried” about the worsening economic situation and the trade war “as the market had hoped,” say AxiTrader’s experts.

By contrast, the Bank of Japan (BoJ) on Thursday maintained its ultra-accommodative monetary policy, renewing its support measures for the economy, at a time when global growth is slowing. The Bank of England (BoE) had to maintain the status quo given the uncertainties around Brexit.

In the euro zone, an agreement has been reached on the Italian budget, but it is essentially thanks to the postponement of the two main measures of the government that are the pension reform and the income of citizenship. In France, where public finances are causing increasing concern, Finance Minister Bruno Le Maire said yesterday to benefit from the “understanding” of the European Commission on the additional expenses incurred by France because of the crisis of “yellow vests” . President Emmanuel Macron announced in December several measures to ease the crisis, which should lead France to a public deficit of 3.2%, beyond the famous threshold of 3.0% set by the European rules.